There's no reason that Intel can't adapt a vertical model. They have no customers. There's a lot of reasons that just making a smartphone chip doesn't make sense.... There's no money in it.
Additionally, with the vertical model you have to build the entire ecosystem of chips, not just one. Then you have to commit to redesigning that platform on a cadence. That includes the OS software too. Heck, just to build the SOC you have to build the system anyway.
Intel could do all this on Android. Reference platforms aren't new to Intel, either.
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